Oil demand collapse by 2050

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Oil demand collapse by 2050

According to IHS Markit, as a result of the electric vehicle revolution, by 2050, oil demand will fall by 25%. And quite frankly, I think this is a conservative estimate.

oildemanddrops

But even if it’s not and it is only 25%, that’s definitely enough to cause the oil and gas industry to reevaluate its long-term investments.

And rest assured, that’s what it's doing.

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